EaseMyTrip co-founder Nishant Pitti pledges shares worth Rs 95 crore for 'personal use’

Nishant Pitti, chairman of the travel booking platform EaseMyTrip, has pledged 9 crore equity shares valued at approximately Rs 94.5 crore at current market prices to Motilal Oswal Financial Services for what he described in a regulatory filing as “personal use.”

According to a disclosure filed with the Bombay Stock Exchange, the transaction was executed on June 20 and represents 2.54% of the online travel company’s total equity base. The pledged shares account for nearly 20% of the 45.4 crore shares currently held by Pitti.

This latest pledge adds to a growing list of encumbered shares. Prior to this transaction, Pitti had 8 crore shares under pledge. Notably, in May, he secured the release of 10 crore shares that had been earlier encumbered, reducing the pledged count to 8 crore. With the latest addition, the total number of pledged shares now stands at 17.01 crore, equivalent to 4.8% of the company’s equity.

The move marks another chapter in Pitti’s continued offloading of EaseMyTrip stock, a process that began in earnest last year. Between March 2024 and March 2025, his stake declined from 28.13% to 12.8%. In one of the more notable transactions, Pitti sold 5 crore shares at Rs 15.68 apiece via a block deal in December, raising Rs 78.3 crore.

Following that sale, Pitti stepped down as chief executive in January. At the time, he issued a public assurance that no further share sales would follow and attributed his offloading to undisclosed personal reasons. “I want to assure you this does not reflect any lack of confidence in EaseMyTrip’s bright future,” he wrote in a post on X.

"With a talented team and Rikant’s visionary leadership, EaseMyTrip is on a strong growth path. To honor your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side," he added.

I recently sold a small portion of my promoter shares for personal reasons. I want to assure you this does not reflect any lack of confidence in EaseMyTrip’s bright future.

With a talented team and Rikant’s visionary leadership, EaseMyTrip is on a strong growth path. To honor…

— Nishant Pitti (@nishantpitti) January 3, 2025

Despite his reassurances, the latest pledge suggests a shifting posture, raising fresh questions among investors over governance and promoter confidence. Pledging of promoter shares, particularly for personal use, is often viewed as a red flag by market observers, signaling potential liquidity concerns or strategic repositioning.